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Jan 26, 2013
01/13
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CNN
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congress voted to suspend the debt ceiling for three months this week, effectively raising the country's borrowing limit while they figure out deeper cuts to reduce the deficit. that keeps me employed for at least a few more months. even before that deadline hits again, march 1st will be on us, the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation, the automatic across-the-board spending cuts. then there's another date to worry about, april 15th. not just tax filing day but the date by which congress has promised to adopt a budget resolution. they even this time stake their pay on it, agreeing to reach a deal or face suspension of their paychecks until they reach a deal. that might just be enough of a carrot to make them actually present a budget that takes on our a bah looning deficit. but that battle may make the recent battle over tax hikes for the rich seem like a friendly game of badminton. big spending cuts are needed and they will hit americans where it hurts -- in their entitlements. i'm talking about health care, medicar
congress voted to suspend the debt ceiling for three months this week, effectively raising the country's borrowing limit while they figure out deeper cuts to reduce the deficit. that keeps me employed for at least a few more months. even before that deadline hits again, march 1st will be on us, the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation, the automatic across-the-board spending cuts. then there's another date to worry about,...
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Jan 27, 2013
01/13
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CNN
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we are working our way through a debt ceiling debate. i think in a responsible manner. with an eye towards trying to fix some problems. >> when you look at the options out there. president obama budget proposal and paul ryan's offer, they both don't do what guys like you say need to be done. balancing the budget for a long time. now you guys have a proposal or coming with a proposal that says you'll balance the budget in ten years. i ask paul ryan this, i can't get an answer. how? it's going to hurt. >> new baselines now in the budget. i mean, obviously, as we know, some of the difficulty and the differences in washington are centered around the method of accounting. whether it's static or dynamic. because it's static, when you raise taxes, that $650 billion of additional taxes that went in because of the cliff deal, that adjusts the baseline. that is going to make the numbers look somewhat differently. right? we'll have to make some choices. there's no question about it. >> right. >> but we have committed to putting a budget out there that will actually bring it to bal
we are working our way through a debt ceiling debate. i think in a responsible manner. with an eye towards trying to fix some problems. >> when you look at the options out there. president obama budget proposal and paul ryan's offer, they both don't do what guys like you say need to be done. balancing the budget for a long time. now you guys have a proposal or coming with a proposal that says you'll balance the budget in ten years. i ask paul ryan this, i can't get an answer. how? it's...
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Jan 21, 2013
01/13
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FBC
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should they use the debt ceiling? >> ultimately, short. two tools that are very real and very powerful coming up. obama has tried to demonize the debt ceiling. okay. set it back with a condition. okay democrats in the senate. you have not passed a budget in three years. the reason why the democrats have control of the senate is that harry reid has said democratic senators in the witness protection program with ever -- whenever budget issues come up. twenty democrats are up for election in 2014. half of them should not be coming back of the continue to vote with obama on tax and spend crazy debt policies which is what they have been doing. i think it is very important for the american people to see what the senate has not done and to force them to act but that. gerri: you sure can't act -- argue with that. the senate has not passed a budget and 1,361 days. let me get a comment. it would stop pay to members of congress if they don't do some of these things, if they don't get a budget resolution. you in favor of that? >> i think it's a good i
should they use the debt ceiling? >> ultimately, short. two tools that are very real and very powerful coming up. obama has tried to demonize the debt ceiling. okay. set it back with a condition. okay democrats in the senate. you have not passed a budget in three years. the reason why the democrats have control of the senate is that harry reid has said democratic senators in the witness protection program with ever -- whenever budget issues come up. twenty democrats are up for election in...
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Jan 24, 2013
01/13
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FBC
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we got through one part of the fiscal cliff, now we're looking at the debt ceiling. which one of those, to you as a business leader, matters the most, affects business the most? >> i think, um, what matters the most is providing clarity. clarity to business, clarity to the country at large. and that's what people want. every time there's a survey, you see that they want clarity. and that's why i think it is so important to have a solution. liz: well, now you know you have clarity on the fact that people have the payroll tax back into their paychecks. >> sure. liz: are you seeing any effect on that where people have less money in their pockets, and maybe they're not buying coca-cola as much? >> well, i think generally speaking we still see great opportunities in the united states for our business in the coming decade and continuing on from there. we haven't seen an impact yet. it's too early to tell. liz: okay. >> but i would say this, um, i would say if we can have a solution -- which i believe we will -- for fiscal reform, if we can have a solution in the united sta
we got through one part of the fiscal cliff, now we're looking at the debt ceiling. which one of those, to you as a business leader, matters the most, affects business the most? >> i think, um, what matters the most is providing clarity. clarity to business, clarity to the country at large. and that's what people want. every time there's a survey, you see that they want clarity. and that's why i think it is so important to have a solution. liz: well, now you know you have clarity on the...
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Jan 28, 2013
01/13
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KNTV
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we know this week that the house voted to extend the debt ceiling for a few months. we still face the sequestration and the continuing resolution. how does this play out? >> forever. >> feels like that. >> forever. they don't agree. so we're seeing an overlay of this, you know, one side the republicans, the other side the democrats. and i must say post-election, president obama has become more aggre aggressive. military spending, they don't agree with what taxation should be, title, on and on and on. gun control, they don't agree. and on the other hand, you know, we have this sort of slow economy that makes it more difficult to cut a deal. and i should add to that, a constitutional crisis in a way because this whole debt ceiling has been a weapon that the house of representatives have used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. i don't know how it the play out. >> meanwhile, the marketses are on fire. the s&p 500 hitting a new five-year high along with the dow jones industrial average. what is driving t
we know this week that the house voted to extend the debt ceiling for a few months. we still face the sequestration and the continuing resolution. how does this play out? >> forever. >> feels like that. >> forever. they don't agree. so we're seeing an overlay of this, you know, one side the republicans, the other side the democrats. and i must say post-election, president obama has become more aggre aggressive. military spending, they don't agree with what taxation should be,...
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Jan 23, 2013
01/13
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FBC
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this suspends the debt ceiling until may 18th. on may 19th the government increases the debt ceiling by the amount of the debt we have accrued and. pay is suspended for lawmakers in the house if they don't pass the budget or in the senate if they don't have a budget passed by april 15th. that money goes into escrow account and won't get paid until the end of the 113th congress which comes to conclusion at end of the 2014. bill goes to the senate where senate majority leader harry reid says the senate will pass it. >> i thank speaker boehner for his leadership in diffusing a fight over the debt ceiling debate. >> now the white house says the president will not stand in the way of this bill becoming law but they are seeking a longer term debt ceiling solution as are democrats and republicans. the problem is, how are you going to do it? republicans say they will come out with a budget that makes sure the balanced budget occurs in the u.s. by the next 10 years, but they say they don't have to raise taxes to do it. democrats are still
this suspends the debt ceiling until may 18th. on may 19th the government increases the debt ceiling by the amount of the debt we have accrued and. pay is suspended for lawmakers in the house if they don't pass the budget or in the senate if they don't have a budget passed by april 15th. that money goes into escrow account and won't get paid until the end of the 113th congress which comes to conclusion at end of the 2014. bill goes to the senate where senate majority leader harry reid says the...
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Jan 23, 2013
01/13
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CNBC
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the house is expected to vote on extending the debt ceiling. there is a new plan the house will take up which would say no one in the house of congress that doesn't pass a budget should get paid after i believe may 19th or something. is that a plan that would also pass in the senate? >> it might, becky. i've got give the house credit for focusing on the real underlying cause of all this government by cliff we've been living through,s which the fact that the senate doesn't function. senator reed chooses not to do a budget resolution for three consecutive years, we did no appropriation bills, no bill to address the debt ceiling and the consequence of this is we end up at midnight on december 31st with a gun to our head trying to get something done at the last minute nobody's had a chance to look at. what the house is saying is, it's about time the senate actually did what any law requires, which is pass a budget. and begin the process of setting the parameters for how we will solve this problem and live within our means and how we will eventually
the house is expected to vote on extending the debt ceiling. there is a new plan the house will take up which would say no one in the house of congress that doesn't pass a budget should get paid after i believe may 19th or something. is that a plan that would also pass in the senate? >> it might, becky. i've got give the house credit for focusing on the real underlying cause of all this government by cliff we've been living through,s which the fact that the senate doesn't function....
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Jan 21, 2013
01/13
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CNBC
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we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflation? the public loves that, right? free money. >> but do th
we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in...
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Jan 23, 2013
01/13
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FBC
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this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term debt ceiling increase. they want to see some longer-term. they have not given it exactly a seal of approval. it seems they both parties could get behind this proposal. the first step through the u.s. house. back to you. dagen: thank you for that. let's bring in our laffer, former economic adviser to president ronald reagan. politicians will never get anything serious done. >> you are probably right. they probably will not get a lot done in the long run. the debt ceiling is one tool to get a little from the democrats and bring some spending down. th
this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term...
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debt ceiling looming katie building pilbeam brings us a preview on the road to davos. so here i am right now traveling deep into the sweet found two dollars off us the ski resort get set to the wall of economic forums and you know a sane topic on a mess thank his politicians and celebrities will head here this week to discuss global financial topics and perhaps even steal a multi billion dollar deal behind a private road to south over forty years now the world economic forum has set the agenda for shaping the global economy and this is the reason resilient dynamism in the words of the founder of the forum all of the schmucks the future great in this you can take your minds dynamism bold vision and bold the. european debt crisis center beat dominating the once again along with this spiraling. down of course china is very strong as well so while i'm stunned take in the economy the laugh i'm still the devil's lisa flying above me by now in private jets mr b. just really doesn't present the difference between them. as we mentioned to the forums theme is resilient dynamism
debt ceiling looming katie building pilbeam brings us a preview on the road to davos. so here i am right now traveling deep into the sweet found two dollars off us the ski resort get set to the wall of economic forums and you know a sane topic on a mess thank his politicians and celebrities will head here this week to discuss global financial topics and perhaps even steal a multi billion dollar deal behind a private road to south over forty years now the world economic forum has set the agenda...
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Jan 24, 2013
01/13
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FBC
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the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel even. we'll be right back what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur
the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel...
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Jan 23, 2013
01/13
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FBC
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melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks rewards. find thousands of big deals now... at officemax. girl: don't look at me. second girl: your hair's a bit frizzy today. aw! ha ha! you should pick that up. announcer: every day, kids witness bullying. poor you. ha ha! they want to help but don't know how. teach your kids how to be more than a bystander. visit stopbullying.gov. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with that. our panel is here with their take on
melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ officemax can help you drive supply costs down... and down. use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks...
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Jan 22, 2013
01/13
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FBC
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melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares re, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with tha
melissa: tomorrow is the big day, the house vote on extending the debt ceiling. there is a catch. that means lawmakers won't get paid unless they actually pass a budget. i love it! our panel joins us with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep....
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Jan 23, 2013
01/13
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FBC
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eye 158
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they will not stand in the way of this three-month increase of the debt ceiling. they want a much longer increase. >> ideally we would extend, raise the debt ceiling for a long period of time so that this is not a question, the uncertainty surrounding as of late 20 political strategy house republicans have taken will be removed. >> the senate will take this bill up and pass the bill, so feebly the white house and the senate, it is a done deal. now, and the senate and the house putting a budget together. john boehner said his budget republicans will release shortly will balance the budget in 10 years. david: rich edson, one of the best reporters i know in washington. we are awaiting the numbers on apple. the stock is about 30% off of the all-time high in fall. could we see the earnings decline for the first time in almost 10 years? keep it right here, a very important our coming straight up. sandra: seaway president of iceland is against big bank bailouts. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite p
they will not stand in the way of this three-month increase of the debt ceiling. they want a much longer increase. >> ideally we would extend, raise the debt ceiling for a long period of time so that this is not a question, the uncertainty surrounding as of late 20 political strategy house republicans have taken will be removed. >> the senate will take this bill up and pass the bill, so feebly the white house and the senate, it is a done deal. now, and the senate and the house...
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Jan 24, 2013
01/13
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FBC
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i was happy to see the debt ceiling thing put back to may if not further. david: professor alan blinder. thank you very much. sandy, over to you. sandra: apple getting slammed after its disappointing forecast. a long list of analysts just now cutting their ratings and price targets. why wasn't this done earlier? coming up we have an analyst who sent up a early warning last week. up next as well as back to davos, the president of costa rica tells liz how their tax policies are bringing in business from some big companies. >> i'm adam shapiro with your fox business brief. it was a mixed day on wall street but the s&p did manage to post its 7th straight day of gains. at&t reported fourth quarter results after the closing bell. earnings per share for the company fell a penny short of stilts coming in at 44 cents. revenue came in slightly better than expected, $32.6 million. >>> officials at sac capital are giving investor an update on an investigation by the securities & exchange commission. that's what sources are telling fox business network senior correspond
i was happy to see the debt ceiling thing put back to may if not further. david: professor alan blinder. thank you very much. sandy, over to you. sandra: apple getting slammed after its disappointing forecast. a long list of analysts just now cutting their ratings and price targets. why wasn't this done earlier? coming up we have an analyst who sent up a early warning last week. up next as well as back to davos, the president of costa rica tells liz how their tax policies are bringing in...
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Jan 24, 2013
01/13
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CNBC
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ceiling. i said you know what? because the ecb finally started acting like the federal reserve, the panic is now over. didn't say the crisis is over, but the panic is over. >> you said carry stability. you talked about tend of financial panic. >> others are saying cautious optimism. >> right. but there's two separations. once we get done dealing with the panic. we'll be farced then we're not part of a business cycle. ben there, sdun this. >> but you've got to get ceiling debate in the u.s. you've got the italian elections. so we will see. >> the perception over here is that the extreme part of the republican party has backed off on this issue of the debt ceiling. >> well, sure, they're extending it. >> that's the perception there. >> steve, there you go. jon fortt better watch out, that's all i'm saying. >> he's covering the economy. we can swap for a while. >> that's not a badi. what do you think, kelly? >> receive, i have the blackberry 11 for the keyboard, right? >> no. you'll elect the vir
ceiling. i said you know what? because the ecb finally started acting like the federal reserve, the panic is now over. didn't say the crisis is over, but the panic is over. >> you said carry stability. you talked about tend of financial panic. >> others are saying cautious optimism. >> right. but there's two separations. once we get done dealing with the panic. we'll be farced then we're not part of a business cycle. ben there, sdun this. >> but you've got to get ceiling...
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Jan 25, 2013
01/13
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FBC
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we have some debt ceiling clarity. you give the market clarity, and improving economic numbers and decent earnings season hard for us not to rally higher. you know, we're closing over 1500. we closed over 1500 under monday. i think that is really bullish for the next couple of weeks at least through friday's employment numbers. i want to point out something really interesting that is happening. the jcj the correlation index. little in the weeds here. but what it really measures how stocks are correlating to the s&p 500. when stocks are correlating a lot, that's bearish stocks and it makes stock picking very, very difficult because really you're picking stocks, a slave to the overall market. that index is now at precrisis lows. so stock pick something now something we can do. something we haven't been able to do for a long period of time. so what are we seeing this first quarter? stocks are moving but the indexes are not. so you're being rewarded for being a good stock-picker and being penalized, apple, for being a bad
we have some debt ceiling clarity. you give the market clarity, and improving economic numbers and decent earnings season hard for us not to rally higher. you know, we're closing over 1500. we closed over 1500 under monday. i think that is really bullish for the next couple of weeks at least through friday's employment numbers. i want to point out something really interesting that is happening. the jcj the correlation index. little in the weeds here. but what it really measures how stocks are...
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Jan 22, 2013
01/13
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CNBC
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earnings, is it going to be debt ceiling talks? basically, is it macro? >> well, i think today and tomorrow is going to tell us a lot. i want to see how google's earnings affect the nasdaq and in turn how the s&p reacts to that. and then tomorrow we have apple. i want to see how apple comes out. is apple going to take out the recent low of 43 and change? and how does the nasdaq react to that? and then what does the s&p react to the nasdaq? right now, i feel the s&p rally is going to be held hostage by the nasdaq. if google and apple can sustain their ground, then i think we keep going up. if they start to pull back, buyer hes in the s&p is going to say why buy them today if they're going on sale tomorrow? >> 483, we know the levels to watch for apple. anthony, thanks. >> thank you. >>> before we go, pro golfer fill michaelson has said he will make drastic changes because of several recent u.s. california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate
earnings, is it going to be debt ceiling talks? basically, is it macro? >> well, i think today and tomorrow is going to tell us a lot. i want to see how google's earnings affect the nasdaq and in turn how the s&p reacts to that. and then tomorrow we have apple. i want to see how apple comes out. is apple going to take out the recent low of 43 and change? and how does the nasdaq react to that? and then what does the s&p react to the nasdaq? right now, i feel the s&p rally is...
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today the debt ceiling debate so we happened that finishing with a modest guy for the folks the way they did much better not very much does he you believe in the profits of the london stock market for his own or for the whole you trying to lay out the second russ is that what happened there because they did indeed finish impulsive terry if you quite impressive guy you got to see who were the more i say yes that means most of the current is there are some very well it was a mix before my old wednesday with the current think. about it is for a fraction of the common current day all right so that's how the markets look i'm up to date over may hit. well with saving we're going to be hit or wait a lawyer with coverage and that will be fine not to use it in cities as well but say without a cause i'm we've got build up of course. that's i was. in davos well i'll be back with more news for in about twenty minutes from now on i mean thomas jordanians headed to the polls in parliamentary elections the country's main opposition boycotted the process promising street protests but also spoke to the c
today the debt ceiling debate so we happened that finishing with a modest guy for the folks the way they did much better not very much does he you believe in the profits of the london stock market for his own or for the whole you trying to lay out the second russ is that what happened there because they did indeed finish impulsive terry if you quite impressive guy you got to see who were the more i say yes that means most of the current is there are some very well it was a mix before my old...
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Jan 25, 2013
01/13
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. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction in the rate of growth. the occasions of the debt level that were headed at 77% growing into the future i think has jeopardized, quite frankly, our standing in the world. when we have about 40, 50% of in this debt owned by invest beers outside of the ideas -- investors outside of the united states, we're raising questions about the sovereignty of this country going forward. and in terms of where's the turning point, i think that's the problem most economists would say they can't answer that question. who knows when that last drop in
. -- debt ceiling." what we're talking about here is congress' power to borrow money and how we should be paying our bills based on that or some other med of -- method of raising revenue. so i think that's important to keep in mind. >> mr. hoagland, you were a member of that task force as well. >> yes. and in fairness, congressman, that task force also recommended a balanced plan that included tax increases as well as spending cuts, more on the spending side than the reduction...
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Jan 27, 2013
01/13
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CNN
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now, we must negotiate the debt ceiling. high unemployment, social unrest. again, we learned from the mountain. baby steps to build confidence. >> if we ski slowly, we feel what we are doing and then we get confident and we get faster and faster. >> reporter: but economic growth seemingly won't go faster. there's always the risk in the global economy that something goes wrong. snowboarders are like central bankers. they have their own way of shredding down the mountain. for bankers, it means printing money. it's brutal economics. >> what's the secret to snowboarding? >> don't be scared. >> reporter: you pick up speed too quickly and you end up falling over. >> come on. that's why you need to move. >> reporter: why do you like snowboarding? you go too fast too quickly and fall over. >> not necessarily. >> reporter: perhaps the best lesson to be learned in managing risk comes from the cross country skier. those hardy experts of slow, steady progress taking huge amounts of energy. >> you need to be fit with the whole body, not only parts of your body. >> you ma
now, we must negotiate the debt ceiling. high unemployment, social unrest. again, we learned from the mountain. baby steps to build confidence. >> if we ski slowly, we feel what we are doing and then we get confident and we get faster and faster. >> reporter: but economic growth seemingly won't go faster. there's always the risk in the global economy that something goes wrong. snowboarders are like central bankers. they have their own way of shredding down the mountain. for bankers,...
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Jan 24, 2013
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the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ross sorkin. it is
the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution...
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Jan 21, 2013
01/13
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ceiling and the fiscal cliff winds down. cheryl: i'm sure there's a lot of investment banks right now in new york that are celebrating what you just said. we shall see. john, we will have more of your pick merck on thursday. merck's chairman and ceo will be sitting down with liz claman in davos switzerland, that interview is coming up later on this week. technology stocks took off last year. they've started off 2013 pretty strong, except for one name, apple. shares of apple this year have already fallen 6% in the first 13 trading days of the year. will the earnings report on wednesday be a turn around or will it send the stock going lower? plus will the rest of the sector follow its lead? we will have more on that coming up next. cheryl: business continues. investors gearing up for a big earnings week this week. tech giants apple and google both set to report. but let's take a look at some other major tech stocks that are in the green so far for the year. starting with some of the computer makers, fox business reported last
ceiling and the fiscal cliff winds down. cheryl: i'm sure there's a lot of investment banks right now in new york that are celebrating what you just said. we shall see. john, we will have more of your pick merck on thursday. merck's chairman and ceo will be sitting down with liz claman in davos switzerland, that interview is coming up later on this week. technology stocks took off last year. they've started off 2013 pretty strong, except for one name, apple. shares of apple this year have...
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Jan 24, 2013
01/13
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less carbon intensity and more jobs seems to go well politically. >> debt ceiling and the issues that we're confronting ahead of us? we just got through our last fiscal cliff. >> one dark cloud that sits above the u.s. economy. and it's easy within our -- >> is it a real cloud, though? some of the comments you hear from ceos now said we're just going to have to get used to all of these cliffs, and we're going to have to just keep going and make just forget about what's going on in washington. is that -- >> that's the reality case which i live in. i live in that world, reality. and the reality is we're moving on anyway. but, of course, uncertainty in the consumer is what drives us all. and the consumer needs to see some degree of political certainty, and let's hope that this is not a kick the can down the road, but a real deal will emerge. we have to solve this and tax reform, the two big policy items above and beyond energy. >> you think that's going to happen? >> let me put it this way, i'm bullish but there's a better case of that happening in the second term than in the first term.
less carbon intensity and more jobs seems to go well politically. >> debt ceiling and the issues that we're confronting ahead of us? we just got through our last fiscal cliff. >> one dark cloud that sits above the u.s. economy. and it's easy within our -- >> is it a real cloud, though? some of the comments you hear from ceos now said we're just going to have to get used to all of these cliffs, and we're going to have to just keep going and make just forget about what's going...
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Jan 24, 2013
01/13
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ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into what i hope will be a robust discussion that will yield some results. we know that for almost four years the united states senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in washington, and what we've said is we will extend the debt ceiling for three months to allow time for the united states senate to write a budget so we can then begin the discussions on how we're going to repay this money that we're going to borrow as well as begin to manage down the debt long term. >> what's the reali
ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into...
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Jan 25, 2013
01/13
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we are solving one by one the issues of the day, the debt ceiling, the rhetoric around fiscal cliff, we clearly need to put all that to bed. but then we go after the reforms that matter, energy policy being a clear one with climate change attached. how we get tax reform in place to make americans and american corporations competitive again, globally. big thing for dow chemical. we want to reinvest in america because we can be competitive out of america. that agenda has to be put on the national agenda. i know the second term president is very keen on doing that. liz: the first term president was accused of being anti-business or not as friendly to business even though he brought a lot of business leaders to the white house and listened to them. many of them sat here and said you know what liz, though, he listened but i didn't see anything effectuated. do you think it's a different time now with president obama? >> i'm very fortunate that i was one of the ones that was called upon very early to help first term president obama. you've got to understand where he's coming from and his ag
we are solving one by one the issues of the day, the debt ceiling, the rhetoric around fiscal cliff, we clearly need to put all that to bed. but then we go after the reforms that matter, energy policy being a clear one with climate change attached. how we get tax reform in place to make americans and american corporations competitive again, globally. big thing for dow chemical. we want to reinvest in america because we can be competitive out of america. that agenda has to be put on the national...
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Jan 23, 2013
01/13
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debt ceiling for nearly four months. that bill is expected to get almost unanimous support from the republican caucus, meaning it will pass. democrats would prefer a longer term solution. senate majority leader harry reid has expressed support for the house bill. the white house says president obama won't stand in the way of it becoming law. ross? >> yeah. >>> we've been asking as a result here in davos how well u.s. lawmakers' persistent failure to come up with a permanent solution impact the u.s. economy. this is some of these views. >> the lack of decisions in the u.s., kicking the can down the road will be a drag. i think it will be a slower start in the united states as a result generally. >> actually very concerned because the issue is demography, medicare. it's not -- everybody focuses on the cost of running the state. about 15% to 20%. but in the short term, i think actually there will be answers. >> longer term, i think u.s. will be supported by the shale gas and the shale oil industry that is growing very fast
debt ceiling for nearly four months. that bill is expected to get almost unanimous support from the republican caucus, meaning it will pass. democrats would prefer a longer term solution. senate majority leader harry reid has expressed support for the house bill. the white house says president obama won't stand in the way of it becoming law. ross? >> yeah. >>> we've been asking as a result here in davos how well u.s. lawmakers' persistent failure to come up with a permanent...
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Jan 23, 2013
01/13
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what this bill does is it suspects the debt ceiling until may. that means treasury can borrow without limit to pay for america's obligations. this is something that gives congress breathing room to deal with some of their other big fiscal challenges that we all know about. it lifts this immediate threat of a default, which is so dangerous not just for the american economy but for the world markets. it does so with a requirement, a price requiring the senate to pass a budget. actually, both houses, each house would have to pass a budget or members of congress won't be paid. their pay will be put in an escrow account are they won't be paid. that's a little bit. schtick they're trying to use. this takes away the threat of a big default. >> house republicans have it seems backed off their demand that any increase in the debt ceiling be matched by spending cuts. is this seen as a political retreat or are they hoping to gain something in return? >> reporter: well, both sides are kind of gloating here and claiming victory. we had a press conference from
what this bill does is it suspects the debt ceiling until may. that means treasury can borrow without limit to pay for america's obligations. this is something that gives congress breathing room to deal with some of their other big fiscal challenges that we all know about. it lifts this immediate threat of a default, which is so dangerous not just for the american economy but for the world markets. it does so with a requirement, a price requiring the senate to pass a budget. actually, both...
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Jan 23, 2013
01/13
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they said they absolutely wouldn't deal with the debt ceiling. a half measure, they will suspend it. eric cantor coming here to take part in a panel on friday afternoon about economic dynamism. i'm surprised that anybody from davos is inviting americans to talk about it. i'm not sure what he will get out of it. he will be here and hopefully we can speak to him about what's going on in the u.s. and in the world. >> the u.s. and europe leading the world, not so much. when you go to davos, they are talking about other big players. ali velshi, thanks. >>> 15 minutes after the hour. other news around the world. from the upper midwest to the mid-atlantic and new england, seeing and feeling the coldest temperatures so far this winter. feels like 7 degrees in washington, d.c. near zero in new york city. and well below zero in fargo, north dakota. this arctic blast is reportedly blamed for four deaths so far. >>> in the cold, more than 300 firefighters had to deal with 7-degree temperatures to battle a raging warehouse fire on the south side of chicago. f
they said they absolutely wouldn't deal with the debt ceiling. a half measure, they will suspend it. eric cantor coming here to take part in a panel on friday afternoon about economic dynamism. i'm surprised that anybody from davos is inviting americans to talk about it. i'm not sure what he will get out of it. he will be here and hopefully we can speak to him about what's going on in the u.s. and in the world. >> the u.s. and europe leading the world, not so much. when you go to davos,...
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Jan 22, 2013
01/13
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what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> shares of research in motion are up sharply this morning, after the ceo said the ongoing review could potentially leetd to the sale of its handset business. plaque berry upgrades alone could in fact drive themes. the question in terms of if they do license their software platform, jim, who would they license to, since knockia is with microsoft, and samsung, motorola with android, so who is left to license w
what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock....
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Jan 28, 2013
01/13
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ceiling. how that turns out will probably dictate how 2013 happens for cat piller and maybe for the world. >> despite the cautious outlook, shares of cat are trading higher. is now the time to buy that name? 90 seconds to make the case. why is now the time. >> i like this for macro ropeses and micro. 60% of revenues are overseas. and 27% in asia. an opportunity there. u.s. construction, 25% market share, leading here. micro, doing as best they can in a challenging environment. in incremental margins better than expected. in the fourth quarter expect more throughout the year. i think guidance of $7 on the low end was no worse than expected. >> what's the problem then? >> first of all, the stock is up 20% since december 16th. i don't think what we heard about earnings or guidance justifies more than that. this is a great company. don't think it will out-perform the market. the only reason you own an individual stock because it out-performs average stock. $17 is given and they don't give us quart
ceiling. how that turns out will probably dictate how 2013 happens for cat piller and maybe for the world. >> despite the cautious outlook, shares of cat are trading higher. is now the time to buy that name? 90 seconds to make the case. why is now the time. >> i like this for macro ropeses and micro. 60% of revenues are overseas. and 27% in asia. an opportunity there. u.s. construction, 25% market share, leading here. micro, doing as best they can in a challenging environment. in...
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Jan 24, 2013
01/13
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the battle over the debt ceiling has been put off to another day because on this day the republican-controlled house voted 285-114 to allow the government to keep borrowing the money it needs to pay its bills through mid-may. the senate and the white house are expected to go along avoiding the threat of default that would rattle financial markets. in a survey of investors by bloomberg, 36% said america's fiscal woes are the biggest threat to the world economy, more than the 29% who named the european debt crisis. anthony mason is attending a meeting of world bankers in davos, switzerland. >> reporter: how strong do you think the u.s. economy actually is right now? >> i think the u.s. economy wants to be strong. >> reporter: but mary callahan erdoes says the bickering in washington is holding it back. erdos is one of the most powerful women on wall street. as c.e.o. of j.p. morgan asset management, she presides over $1.2 trillion in investments. >> the u.s. has to realize it's got so much going for it. let's just get ourselves to come together as a team, one team running that country, helping t
the battle over the debt ceiling has been put off to another day because on this day the republican-controlled house voted 285-114 to allow the government to keep borrowing the money it needs to pay its bills through mid-may. the senate and the white house are expected to go along avoiding the threat of default that would rattle financial markets. in a survey of investors by bloomberg, 36% said america's fiscal woes are the biggest threat to the world economy, more than the 29% who named the...
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Jan 24, 2013
01/13
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now the spot slight on senate democrats to make a move on the debt ceiling. joining us this morning, senator bob casey, a democrat of pennsylvania, vice chairman of the joint economic committee. senator, good morning to you. >> good morning. good to be with you. >> so the house says no budget, no one gets paid. you have introduced legislation if there's a shutdown, no one gets paid. why don't we stop paying everybody and just call it a day? >> well, look, i think it's important that we have measures introduced to hold folks accountable for what i think would be irresponsible behavior to allow default. but i think we are moving the right direction now. there is action by the house, there's a positive step. we have to build on t but i think it will pass. and it give, i think, some certainty on this specific question of the debt ceiling and the question of default, because we know from 2011, the adverse impact 2,000 points in the -- that the dow lost. we know the consumer confidence took a six-month hit because of the debt ceiling fight. so, to take that off the
now the spot slight on senate democrats to make a move on the debt ceiling. joining us this morning, senator bob casey, a democrat of pennsylvania, vice chairman of the joint economic committee. senator, good morning to you. >> good morning. good to be with you. >> so the house says no budget, no one gets paid. you have introduced legislation if there's a shutdown, no one gets paid. why don't we stop paying everybody and just call it a day? >> well, look, i think it's...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house is expected to approve the debt limit increase tomor
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve...
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Jan 28, 2013
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we had gone through the debt ceiling. and that the united states budget situation was not the clear and present danger that it had been in the past. >> the neville chamberlain moment, right? >> you could be right about that. you could be right. i'm just saying -- >> half full or half empty at least we agree on exactly the level, right? and half if not at all. >> i like the idea that we can now turn from emergency measures to questions of how we create growth. there were a lot of good discussion about that and it would be nice -- >> talk to ben about that. he's obviously not aware that we're not in crisis anymore. >> i know we've got to go. but it would be nice to begin our conversation from here on out. how do we make growth instead of how do we put our fires? that's a different conversation. >> you'll never learn that at davos. >> you want to have one of those arguments, rick or just -- we're much more civil than those guys, right? >> hey, civility. the highlight of monday. >> and friday. >> thanks, guys. >> all he needs
we had gone through the debt ceiling. and that the united states budget situation was not the clear and present danger that it had been in the past. >> the neville chamberlain moment, right? >> you could be right about that. you could be right. i'm just saying -- >> half full or half empty at least we agree on exactly the level, right? and half if not at all. >> i like the idea that we can now turn from emergency measures to questions of how we create growth. there were...
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Jan 28, 2013
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and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and the kind of leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it down. you broach the whole growth of growth and jobs, and that is the answer to all of us. you also talk a lot about contagion on this one. we all sensed that if the european situation got worse, and they represent 23% of world gdp, the effect it's going to have on the united states, india, brazil, it's going to be real. and so with 40% of export coming here to the united states and so forth, all of a sudden we started to see
and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and...
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Jan 24, 2013
01/13
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you are looking ahead to the debt ceiling and saying another policy error could be a big market hit. what do you mean by that? >> we look can't think we are still in this leveraging scenario. it is not over. debt levels are still high in the u.s. and many developing economies. we have to bring those down to create a nice fundamental situation. that provides a lot of opportunity for policymakers to make mistakes or mess things up. and the extension in front of -- a sequester coming. the extension of the budgets for the coming year, in europe we still have spain refinancing 20% of gdp in debt, more than enough opportunities, that is not a best case. >> you are talking about the united states, the worst enemy at this point. to get these jobless claims at week 5-year lows, nice to see but if unemployment is at 10%, in range for 2013, and it will take 1/2% of of the gdp, no jobs, don't even have an economic recovery and no jobs. >> not necessarily a bad economy, we are in an okay economy, not great because 1/2%, from a fiscal austerity coming through the pike, the job situation is improvi
you are looking ahead to the debt ceiling and saying another policy error could be a big market hit. what do you mean by that? >> we look can't think we are still in this leveraging scenario. it is not over. debt levels are still high in the u.s. and many developing economies. we have to bring those down to create a nice fundamental situation. that provides a lot of opportunity for policymakers to make mistakes or mess things up. and the extension in front of -- a sequester coming. the...
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Jan 22, 2013
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i don't think it takes much to have another debt ceiling debate and debacle would not be helpful here. i think there's so much minon the sidelines between the retail investor and the corporate america today, has so much money to invest. get rid of some of that uncertainty and this economy will go. i'm quite bullish about that. >> can you provide guidance for this year without knowing exactly what washington is going to come up with? >> we gave a range. we don't give guidance. we give a range on a conservative side and optimistic side. we're right inside that range. had a great start to the year. we're ahead of consensus. we her record asset gathering and record guidance sales and great control. had a great start. >> had a good three months in the stock as well at this point. fred, always good to see you. >> thanks for coming by. >> the president of amayor trade joining us today. dell shares sharply higher today. after david faber broke the news that microsoft is now in talks to help finance that buyout of dell. david joins us now with more details. they are getting a party together, a
i don't think it takes much to have another debt ceiling debate and debacle would not be helpful here. i think there's so much minon the sidelines between the retail investor and the corporate america today, has so much money to invest. get rid of some of that uncertainty and this economy will go. i'm quite bullish about that. >> can you provide guidance for this year without knowing exactly what washington is going to come up with? >> we gave a range. we don't give guidance. we...
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Jan 22, 2013
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Jan 25, 2013
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ceiling, that's not especially helpful. that's what actually a lot of u.s. leaders complained about with the europeans about a year ago. they were saying oh, you know just pushing the can down the road yet again. well, sure. >> i guess the whole issue of do you provide stimulus to a weak and anemic story or do you cut back in a time that things are really not growing so adding austerity to an already weak story? >> what is needed is confidence. and you need to restore confidence in the way an economy is run. so things will vary depending on the strength of the currency, depending on the financing needs, the financing situation of the country and for some countries austerity, strong right from the start, is needed. when, you know, the situation of finance -- when the financing is under huge pressure. as has been the case with some european countries. in other situations, where there is a degree of confidence where markets know that the governments are serious about what they're doing, the pace doesn't have to be as, you know
ceiling, that's not especially helpful. that's what actually a lot of u.s. leaders complained about with the europeans about a year ago. they were saying oh, you know just pushing the can down the road yet again. well, sure. >> i guess the whole issue of do you provide stimulus to a weak and anemic story or do you cut back in a time that things are really not growing so adding austerity to an already weak story? >> what is needed is confidence. and you need to restore confidence in...
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Jan 23, 2013
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. >> are you expecting a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic early 2013. do you think this is sustainable? >> the economy grows it's sustainable, and i still think you can buy american companies at pretty good prices. these are some of the world class companies, you know, not just american companies, european and japanese and chinese companies, but you are still buying at fairly good prices and the alternatives aren't that good, yeah, i'm comfortable owning stocks right now. >> are you saying that kind of comfort on the part of investors, the private bank, wealth management? what are you seeing in terms of the sentiment? >> i thi
. >> are you expecting a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic...
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Jan 23, 2013
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debt ceiling, supposed to hit that. now it will be steve 19. there's no austerity. >> what michael is saying in a very long-winded way is don't fight the fed. not fighting the fed. the fed, europe, japan's now with b to go hog wild. >> sure, sure. >> the whole world is printing new money. >> abe, the new prime minister of japan, japan is at least discussing a new quantitative easing scheme for them. they are going to be printing a lot of yen. >> the point is all that tends to be good for assets like stocks? >> very stimulative. europe will have to start printing money as well to deal with their issues so you don't want to fight that liquidity. >> earnings don't matter then? >> earnings do matter. i think probably revenue will matter a lot more than earnings by the end of 2013. earnings matter and fundamentals matter but the backdrop is we know what we think may not be relevant or what bernanke thinks is relative, he'll keep this a liquid environment for the foreseeable future. >> jim bianco, earnings matter. steve's liked to the earnings so far
debt ceiling, supposed to hit that. now it will be steve 19. there's no austerity. >> what michael is saying in a very long-winded way is don't fight the fed. not fighting the fed. the fed, europe, japan's now with b to go hog wild. >> sure, sure. >> the whole world is printing new money. >> abe, the new prime minister of japan, japan is at least discussing a new quantitative easing scheme for them. they are going to be printing a lot of yen. >> the point is all...
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Jan 25, 2013
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and navigating the financial crisis to facing off with congress against the debt ceiling and the fiscal cliff, here is a look at the past four years as geithner gets set to exit. >> nbc news is now reporting that timothy geithner will be the treasury secretary under president-elect barack obama. >> tim geithner offers not just extensive experience shaping economic policy and managing financial markets. he also has an unparalleled understanding of our current economic crisis. >> the ayes are 60, nays are 34. >> i, timothy f. geithner, i pledge all of my ability to help outline that challenge. we are outlining a new fiscal stability plan. >> will you step down from your post sdmp. >> it is a great privilege for me to serve this president and i am very pleased to have a chance to address the range of concerns you said. i agree with almost nothing in what you said. >> we've got the t.a.r.p. it's suppose to expire. >> we are working to put the t.a.r.p. out of its misery and no one will be happier than i am. >> i am complete confidence in tim geithner. >> lots of great people with lots of exp
and navigating the financial crisis to facing off with congress against the debt ceiling and the fiscal cliff, here is a look at the past four years as geithner gets set to exit. >> nbc news is now reporting that timothy geithner will be the treasury secretary under president-elect barack obama. >> tim geithner offers not just extensive experience shaping economic policy and managing financial markets. he also has an unparalleled understanding of our current economic crisis....
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we do get the debt ceiling as a pullback, our fund will do well. in that growth market, we'll tend to lag performance. we'll still participate, but not to the same extent. >> bob, thanks for joining us. >> thanks, david. >>> when we come back, looking to escape from the daily grind of the city. robert frank takes you to a private island 15 minutes from manhattan. it could be yours if you've got something close to $20 million. back in a couple of minutes. [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new pursuit. >>> the financial elite are meeting at the economic forum in davos, switzerland, this week. jamie dimon sat down with our own maria bartiromo. we have more on that interview. maria? >> hi there, melissa. that inte. >> this morning i moderated a panel and it was a big debate on how the financial services sector will evolve. people like axel weber, who you will hear from later on "the closing bell." basically believes the big banks are going to have to sp
we do get the debt ceiling as a pullback, our fund will do well. in that growth market, we'll tend to lag performance. we'll still participate, but not to the same extent. >> bob, thanks for joining us. >> thanks, david. >>> when we come back, looking to escape from the daily grind of the city. robert frank takes you to a private island 15 minutes from manhattan. it could be yours if you've got something close to $20 million. back in a couple of minutes. [ male announcer ]...